All Forum Posts by: Luke Pascal

Hello!

I'm a grad student with little money and experience, but tons of drive! I'd like to start driving for dollars in my neighborhood to see if I can start finding some deals. That said, I wouldn't know what to do even if I found a motivated seller/buyer. Especially because I have little money to my name, I'm afraid I'd be contractually tied to a property that I cannot afford, should I not be able to find a buyer. 

Could someone please walk me through the process? How do I get a house under contract, even if I have very little money? Additionally, how do I sell it to someone else and make sure I get the money for it?

Thank you to anyone reading my post. I'm so grateful for this wonderful community and I hope to grow alongside all of you!

Luke

@Will Fraser - I really appreciated your message. I could feel the passion in which you typed those words. Great advice. Especially that second point about tenants who "NEED" to move in the next day. Definitely I red flag.

Some background: I have a 750+ credit score, but because I'm a full-time student, I have no substantial income. Thus I'm afraid I won't qualify for any lenders. I won't be able to start working until I finish my internship after I finish graduate school. Which means I won't have a satisfactory income until the end of next year at the minimum. This has led me to believe that I should start with wholesaling so that I can get some experience and potentially make some money. Hopefully, when I finish my education, I will have positioned myself well to buy my own deals. 

So is this a good plan? If not, what else would you recommend? 

Would I need a strong income to place a deal under contract if I intend to connect to another buyer?

Also, if I do start wholesaling, how do I build a network of potential buyers to connect with. 

I appreciate any and ALL feedback. I'm so impressed by this community, and I look forward to learning from you all! Thank you!

@Joe P. Your messages literally made me laugh out loud. Great feedback though! As someone new to real estate investing myself, I appreciate your insights.

Hi @Nick Peters. Thank you for all the resources. I've already checked out a few of them. I also checked out your profile and went ahead and downloaded your free rental property analysis spreadsheet. I can't wait to apply it to properties in my local area. I appreciate the great resource!

@Timothy Lewis It seems like you dip your toes in a bit of everything. Nice! Are you a part of any miami-based meet-ups? 

Hi @Amy Scarborough! I'm in the same boat. Just wrote my first post yesterday! I'm to learn as much as I can and network. Best of luck to you!

Hi @Malgorzata Sadowska. Frankly, I don't know yet. Seeing as I'm new to the community I'm looking to meet a range of people in a variety of roles, and for them to get to know me. I hope that when I'm positioned to start pursuing deals, I'll already have an established network/team to reach out to. Hopefully, you included!

Hi @Timothy Lewis! Right now I'm still considering what options I have. Ultimately my goal is to BRRRR. I'm open to wholesaling just to get my feet wet. Seeing as I have no experience in the game, I'm simply looking to get started. What about you friend?

I'm new to the bigger pockets community and real estate investing. I'm a grad student and I will be finishing school in about a year. That said I want to get started with real estate investing. Problem: I have very little money. However, after listening to the podcast it seems that I can find lenders who could help me finance my first property. Maybe I'm jumping the gun... But I'm just so excited. So I was hoping to start building my network here in Miami... or elsewhere virtually. As Brandon said in the latest podcast, "start building your toolbox." So here I am... building my box. I'm open to any and all suggestions! Thanks!